Category Archives: South America bitcoin news

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South America: Crypto and Blockchain News Roundup, 2nd to 8th November 2018

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Brazil

Pharma company launches digital innovation challenge: Pfizer, one of the largest pharmaceutical companies in the world, has announced a new entrepreneurship competition. The Pfizer Challenge aims to stimulate innovation in two categories: medical innovation and tech innovation.

Participants can register themselves for the challenge on the official Pfizer Brazil website and the event itself will take place on 4 December 2018. Blockchain startups are looking towards the tech category.

Since Pfizer is interested in the developments of blockchain technology, developers and has already announced two partnerships in DLT including one with Aimeds, an AI company and another with Genentech that uses Quorum based on Ethereum to keep fake medicines out of medical supply chains.

Tax regulator publishes draft on crypto taxation: Federal financial regulator Federal Revenue of Brazil (RFB) has published a draft on cryptocurrency taxation in the country.

In the draft paper, available on the RFB website, the monetary authority has declared that it is the duty of the cryptocurrency exchanges to send detailed reports of all cryptocurrency operations on a monthly basis to the regulator. They will even have to reveal the amount and number of transactions as well as identity of customers themselves.

All legal entities investing in cryptocurrencies in foreign exchanges are also obliged to report all transactions per month. For those who fail to report their trade, there will be a fine of up to BRL 1,500 (USD 400). The RFB could charge 3% of transactions as a fine too.

The hard-hitting measure by the regulator is not yet approved by the government but cryptocurrency advocates including the Brazilian Blockchain and Cryptocurrency Association (ABCB) may oppose these measures.

Sao Paulo restaurant to accept Bitcoin: A Sao Paulo restaurant named Casa de Porco Bar has announced that it will be accepting Bitcoin payments in a partnership with CoinWISE cryptocurrency payments platform.

According to the restaurant chef Jefferson Rueda, “Our idea is to make cryptocurrencies commonplace just like any other form of payment and thereby increase their global currency position.”

The service is easy to use and will bring many benefits to cryptocurrency holders in the city.

Ronaldinho announces new crypto in partnership with Usain Bolt: Two of the biggest names in sports Usain Bolt and Ronaldinho Gaucho have joined hands to launch a cryptocurrency asset in the market called the Champion Coin.

Other prominent personalities added to the project include Didier Drogba, Akshay Kumar and David Trezeguet. The project is based around global hygiene company Champion Shave. The aim is to tokenize the expansion of the company and record the sale of the first 100% recycled shaver on DLT.

Venezuela

Government authorizes first payment with Petro: The Venezuelan government is moving forward with the use of the controversial cryptocurrency Petro and has ordered the first sentence payment using the state-owned token.

Venezuela’s top court ordered that moral damages in a work-related case be paid in Petro or equivalent to the victim who was injured by an Agriculture Ministry Institute employee.

 

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South America: Crypto and Blockchain News Roundup, 26th October to 1st November 2018

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Brazil

Uber of Brazilian aviation accepts Bitcoin as payment: A local ride-hailing service for helicopters and planes in Brazil called Flapper is now accepting Bitcoin as payment.

Through a partnership with payment company Warp Exchange, the “Uber of Brazilian aviation” is now looking to accept as much as USD 100,000 in cryptocurrency payments in 2018 alone. Warp exchange has been helping merchants accept cryptocurrencies in the country.

Flapper itself has been around for two years and over 145 aircraft are registered on it. The service is mos popular in Sao Paulo and is currently expanding its operations and adding new payment methods, including cryptocurrencies.

Revenue watchdog to tighten crypto trading: The Federal Internal Revenue Service of Brazil has decided to tighten supervision of cryptocurrency holders and traders in the country.

According to the new rules being enforced by the agency, traders and holders will be required to report a monthly statement with all the trades being executed during that timeframe. While this move is being termed high-handed by the local crypto community, the regulator hasn’t yet set a deadline for this latest order to be executed and public consultation opened on it.

No exchange has been notified of this latest move by the government as well. Reports say the authorities believe that cryptocurrency traders are evading taxes and that is why this move is being pursued.

Exchange association announces price index: The Brazilian Association of Cryptoeconomics (ABCripto) has announced the launch of a new price index system in the country to calculate the “real price” of cryptocurrencies. Most of the major cryptocurrency exchanges are in the association and it is believed that the index will eventually become a trend, something that is missing from the Brazilian market these days.

According to the president of ABCripto: “As for the index, its objective is to develop and apply a calculation methodology that results in the reference price of the performance and volume of the Bitcoin unit in reals over time. To do this, ABCripto’s proposal is to use information from the main companies that trade the BTC / BRL pair on its platforms and make the index and its history available for public use.”

Banks reopen crypto exchange accounts to avoid fines: Two banks in the country are now reopening cryptocurrency exchange accounts after they were ordered by local authorities to do so or face fines.

Banco do Brasil and Santandar Brasil banks had frozen the accounts of exchange Bitcoin Max for a while now and the Federal District court eventually came to the exchange’s aid. The court ordered the banks to reopen the accounts in a preliminary ruling or face a fine up to BRL 20,000 (USD 5,400). All frozen funds were also ordered to be made available again.

While the case is still in the courts, it is still an initial victory for the exchange that had a sizeable portion of its funds blocked by these two banks.

Venezuela

Government starts selling Petro but buyers get bonds instead of crypto: The Venezuelan government has announced that its flagship cryptocurrency Petro is now available for purchase for the public, but issues remain. The cryptocurrency investors are only getting paper bonds or certificates from the government and right now there is no evidence at all that the cryptocurrency even exists.

While Venezuelan officials and a Chinese delegate made a public show of buying the state cryptocurrency, they were given a host of login details including name, signature and fingerprints which makes no sense for a cryptocurrency. The move falls in line for a theory that Petro itself cannot be transferred at the moment.

Colombia

Dash conference held: Privacy-focused cryptocurrency Dash has recently held a cryptocurrency conference in the country especially aimed at educating users for the Dash platform. The event was attended by over 132 participants and was it was almost entirely in Spanish, the local language there.

Dash is looking to increase usage and appeal in South America as the continent embraces cryptocurrencies for a variety of reasons including inflation.

 

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South America: Crypto and Blockchain News Roundup, 19th to 25th October 2018

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Brazil

SMS cryptocurrency trading service opens in Brazil: Brazilians can now trade in cryptocurrencies without an internet connection as SMS-based service CoinText has started in the country. The new service doesn’t require WiFi or cellular data and users can use it with simple offline SMS commands. The platform also automatically generates a wallet for each user once he/she receives funds.

While Brazil is increasing its footprint on the cryptocurrency world, offline services mean that people can now trade and manage cryptocurrencies with extremely limited connectivity on the go.

Venezuela

Government lists 6 crypto exchanges for Petro trading: The Venezuelan authorities have listed six cryptocurrency exchanges for trading Petro, the state cryptocurrency of Venezuela. While the move was announced amid huge government hype, the number is much fewer than the initial 16 announced by President Nicolas Maduro.

The exchanges – Cave, Blockchain, Bancar, Antwerp, Afx trade and Criptolago – are relatively unknown, further affecting the credibility of the announcement. It is reported that initially, many exchanges were willing to list Petro but pulled out after the US government sanctioned the cryptocurrency.

Petro itself is still in infancy as it was deemed untransferable recently despite an overbearing attitude of the government to adopt it. It was also rejected by oil importing India as a means of payment for crude oil.

While the government is continuing to push forward the cryptocurrency in full force, even requiring passport applicants to pay in Petro, it remains to be seen whether these efforts will be fruitful for the government.

Colombia

Crypto trading reaching new heights: Cryptocurrency trading is reaching new heights in Colombia as it breaks into the local market amid developments in commerce, education and overseas investment. Trading volume on popular P2P Bitcoin buying and selling platform Localbitcoins.com has now reached a record BTC 350 despite Bitcoin’s price stagnation in recent times.

Apart from Bitcoin, Dash is eagerly trying to set up shop in the country as well as other parts of the continent. While the Colombian government is still working on setting up new laws for crypto regulation amid some blowback from the banking circles, the newly-elected president Ivan Duque is reportedly favorable towards the cause of cryptocurrencies in the country. Even football icon James Rodriguez has entered the industry and is reportedly looking to launch his own coin.

President petitioned to create favorable atmosphere for crypto: Newly-elected president Ivan Duque has been petitioned by a top cryptocurrency exchange to help restart its trading activities after it was forced to close operations earlier this year.

Buda exchange, one of the largest cryptocurrency exchanges in the region, had its accounts frozen by financial authorities in June and has pushed many traders to use P2P trading platforms like Localbitcoins instead. While Buda’s loss has been Localbitcoins’s gain, the exchange is still considered an easier way to purchase cryptocurrencies.

President Duque himself is being seen as a pro-cryptocurrency figure in the country and has promised tax exemption to the tech sector as well. It remains to be seen, however, what he is going to do regarding the operations of cryptocurrency exchanges in the country but many are hopeful it will be the dawn of a new era for cryptocurrencies in Colombia.

 

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